Loop Capital raised the firm’s price target on Dick’s Sporting (DKS) to $215 from $180 and keeps a Hold rating on the shares. Following the firm’s recent call with former Foot Locker (FL) marketing executive to discuss Dick’s pending acquisition of Foot Locker, Loop was left feeling considerably more positive about the deal, particularly given the fact that the executive unequivocally stated she would have advised Dick’s to acquire Foot Locker given her belief the resulting scale and vendor leverage far outweighs the integration risk, the analyst tells investors in a research note. The firm remains at neutral due to valuation levels however, Loop added.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on DKS:
- Carvana upgraded, Ulta Beauty downgraded: Wall Street’s top analyst calls
- Gordon Haskett ups Dick’s to Hold as Foot Locker fears take time playing out
- Dick’s Sporting upgraded to Hold from Reduce at Gordon Haskett
- Dick’s Sporting Goods Pauses Merger for FTC Review
- Walmart (WMT) Launches 6 Days of Deals to Seize Amazon Prime Day Spend